All Forum Posts by: Elias Halvorson

Never experienced this. What bank did you use? I would try using SOFI - they've always been good to me on my personal loans. I think they lend up to 100K 

There is not much to do but accept the deal or not. You could drill one of the wells deeper and hope to hit a better producing aquifer, but that will likely be very expensive. As a son of a well driller I can tell you people drill wells because either A) they want to be more off grid, or B), and much more likely, the cost of getting city/county water is prohibitive and drilling a well is much cheaper. Water catchment (as mentioned above) is something many properties have on the Big Island in HI - not sure it is practical there. An improvement you could ask for is a $$$ credit to build a bigger pumphouse with a bigger water storage tank so if/when the wells go dry you would have a bigger reservoir of water. 

Im going to say it could be worth it, providing you can find a good real estate team to take you under their wing. So maybe instead of saving 3% from the buyers commission, you are saving 2% and they are helping you with advice, some of the intricacies, etc. So, depending on where you're investing will determine the value. If you were trying to save 2% buying low priced homes in the midwest, maybe not worth it. If you are buying homes in more expensive suburbs of Boston, then it totally could be worth it. ANyways, you didnt really give much info so it's tough to recommend yay or nay, but it is definitely something I would explore further if I was in your shoes. 

That's solid. Not the absolute best, but definitely not bad. I think Kiavi (not sure they lend in NY) has better rates. 

With regards to other options, FHA and USDA could be options, but more info is needed. For USDA there are stringent DTI requirements and income ceilings.

Eric, lenders typically need more information to provide you an accurate quote. Property value, loan-to-value, your credit score, and type of property (SFH, condo, etc) are just some of the things. Not knowing any of these and assuming you have a 760+ credit score, and it is a SFH then the rates Im seeing in Hawaii and WA (the states Im licensed in), for a SFH are around 6.375% (6.41% APR) for a 75% LTV and 6.5% (6.55% APR) for 80% LTV.

Cheers

Low7s and a 3 year ppp. I dont know anyone offering low 7s with no ppp these days.